The Ruschlikon initiative, launched in 2009, is a global community of insurers, brokers and reinsurers. Its primary purpose is to optimize administrative electronic exchanges through the application of standardized processes that reduce operational costs and enhance client services. Ruschlikon aims to further automate back office processes by implementing the established Global Reinsurance and Large Commercial (GRLC) ACORD standardsi.
In 2013, Ruschlikon doubled its volumes to 1.5 million messages, with members reporting productivity gains of up to 35%. Ruschlikon is active in Europe, North America, Bermuda, and Asia-Pacific, with a community of 45 companies that is continuously growing. The initiative has already been largely adopted by the industry – Ruschlikon members represent 60% of the worldwide reinsurance premiums, 75% of the reinsurance brokers business, and around 50% of the London Market P&C insurance volume.
The Ruschlikon steering group – members are AIG, AON, Catlin, Guy Carpenter, Munich Re, SCOR, Swiss Re, Willis and XL Group - has defined its objectives and priorities for the next two years as:
Increasing the volume of electronic exchanges within the existing Ruschlikon community, implementing the full scope of accounting, claims and settlement messages, worldwide, and for all P&C contracts; and
Enlarging the Ruschlikon community through the addition of other major players, thanks to a fine-tuned business case for each implementer category (insurers, brokers, reinsurers), with a particular focus on brokers;
Régis Delayat, the new Ruschlikon Chair and SCOR Group Chief Information Officer commented, “With the major players committed to e-administration on a global scale, conditions for success are optimal, and by the end of 2016, Ruschlikon will reach the volume of electronic exchanges it needs to bring the insurance, coinsurance and reinsurance market into a new era of heightened efficiency.”
i ACORD Standards help companies do business more efficiently by improving data flow and reducing errors.